Streetbeat News

MULN

Mullen Automotive, Inc.

Industry

Auto - Manufacturers

Mullen Automotive, Inc., an electric vehicle company, manufactures and distributes electric vehicles. It also operates CarHub, a digital platform that leverages AI to offer an interactive solution for buying, selling, and owning a car; and provides battery technology and emergency point-of-care solutions. The company was founded in 2014 and is based in Brea, California.

Open

3.43

Mkt cap

22M

Volume

4.4M

High

3.43

P/E Ratio

N/A

52-wk high

2100.00

Low

2.50

Div yield

N/A

52-wk low

1.60

Mullen Automotive, listed on NASDAQ as MULN, has faced significant challenges since its debut. Despite initial promises of luxury EVs and advanced battery technology, the company failed to meet commercialization goals, leading to a 90% stock value drop by March 2022. A lawsuit followed, accusing Mullen of misleading investors, which was settled for $7.25 million. Hindenburg Research's report further damaged Mullen's reputation, highlighting inflated claims and leadership issues.

Portfolio Pulse from Stan Vick

October 02, 2024 | 2:27 pm

Mullen Automotive anticipates a Q3 2024 revenue of $4.5 million and plans to reduce cash burn through 2025, aiming for cash breakeven by December 2025.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 1:12 pm

Mullen Automotive shares have resumed trading and experienced a 14% increase.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 2:07 pm

Several consumer discretionary stocks experienced significant price movements during Friday's intraday session. Notable gainers included TCTM Kids IT Education, Uxin, and ZEEKR Intelligent Tech, while Kaixin Holdings and Color Star Tech were among the losers.

Portfolio Pulse from Benzinga Insights

September 27, 2024 | 4:31 pm

Mullen Automotive has announced a $3.2 million purchase order from Papé Truck for 50 electric vehicles, including 43 Class 3 trucks and 7 Class 1 vans. The delivery and revenue recognition are immediate, impacting 30 commercial locations.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 1:15 pm

Several consumer discretionary stocks experienced significant price movements during Wednesday's intraday session. Notable gainers included Genius Gr, Pinstripes Holdings, and Twin Vee PowerCats, while Stitch Fix and Target Hospitality were among the major losers.

Portfolio Pulse from Benzinga Insights

September 25, 2024 | 2:42 pm

Mullen Automotive's stock continues to decline despite updates from CEO David Michery. The company executed a 1-for-100 reverse stock split to comply with Nasdaq's minimum bid price rule, but shares have fallen nearly 50% since. Heavy trading volume is noted.

Portfolio Pulse from Erica Kollmann

September 24, 2024 | 6:01 pm

Mullen Automotive shares are experiencing a decline following an update from the CEO regarding sales growth, financing, and new vehicle orders.

Portfolio Pulse from Benzinga Newsdesk

September 24, 2024 | 4:47 pm

Mullen Automotive's CEO, David Michery, updates shareholders on significant developments including sales growth, a $100 million financing, new vehicle orders, a $210 million deal with Volt Mobility, U.S. dealer expansion, and Bollinger electric truck production.

Portfolio Pulse from Benzinga Newsdesk

September 24, 2024 | 1:03 pm

Mullen Automotive's subsidiary, Bollinger Motors, has produced its first customer-ready B4 electric truck in Michigan, marking a significant milestone. Despite this achievement, Mullen Automotive's shares are trading lower, down 8.5% at $6.11. Bollinger Motors has partnered with Roush Industries for production, leveraging Roush's expertise in e-mobility. The B4 truck is aimed at the commercial fleet market, with a focus on electrification.

Portfolio Pulse from Lekha Gupta

September 23, 2024 | 5:25 pm

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